Teladoc Health (NYSE:TDOC) Stock Price Target Raised at Wells Fargo & Company

Teladoc Health (NYSE:TDOC) had its target price increased by stock analysts at Wells Fargo & Company from $6.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the health services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 15.30% from the stock’s current price.

Other analysts also recently issued reports about the company. Citigroup decreased their price target on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, August 3rd. UBS Group upped their price objective on Teladoc Health from $6.50 to $9.00 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Teladoc Health from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Bank of America raised their target price on Teladoc Health from $10.50 to $11.50 in a research report on Thursday, October 29th. Finally, Truist Financial lowered their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.40.

Teladoc Health Stock Performance

TDOC traded down $0.26 during mid-day trading on Thursday, reaching $9.45. 937,150 shares of the stock were exchanged, compared to its average volume of 5,107,927. The stock has a market capitalization of $1.72 billion, a PE ratio of -10.95 and a beta of 2.00. The company has a 50 day moving average price of $6.40 and a two-hundred day moving average price of $6.51. Teladoc Health has a 1 year low of $4.40 and a 1 year high of $9.89.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.07. The firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $588.14 million. Teladoc Health had a negative net margin of 6.27% and a negative return on equity of 11.63%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.28) EPS. Sell-side analysts expect that Teladoc Health will post -0.86 EPS for the current fiscal year.

Insider Activity at Teladoc Health

In other Teladoc Health news, CEO Charles III sold 17,805 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $6.10, for a total value of $108,610.50. Following the transaction, the chief executive officer directly owned 465,535 shares in the company, valued at $2,839,763.50. This represents a 3.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Teladoc Health

A number of institutional investors and hedge funds have recently bought and sold shares of TDOC. Renaissance Technologies LLC lifted its holdings in shares of Teladoc Health by 1.3% in the 1st quarter. Renaissance Technologies LLC now owns 8,085,542 shares of the health services provider’s stock worth $44,066,000 after acquiring an additional 107,400 shares during the last quarter. Monaco Asset Management SAM purchased a new position in Teladoc Health during the 2nd quarter valued at about $26,864,000. Pale Fire Capital SE raised its holdings in shares of Teladoc Health by 74.8% during the first quarter. Pale Fire Capital SE now owns 3,398,491 shares of the health services provider’s stock valued at $18,522,000 after acquiring an additional 1,454,288 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Teladoc Health by 128.0% in the 1st quarter. Quantinno Capital Management LP now owns 2,621,378 shares of the health services provider’s stock worth $14,287,000 after purchasing an additional 1,471,631 shares during the period. Finally, Counterpoint Mutual Funds LLC lifted its holdings in Teladoc Health by 1,017.4% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock worth $9,571,000 after buying an additional 1,502,488 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.